Rental rates have held up better than expected, with rental rate data holding strong through November 15th, according to research from M Science, as shared on For Construction Pros.
M Science tracks general rental rates for over 600 equipment SKUs at over 1,000 United Rentals’, Sunbelt Rentals’, and Herc Rentals’ branch locations to understand how rental rates are changing at the largest market participants on a bi-weekly basis. Those stores represent about 23% of all rental stores in the United States.
In mid-November, general rental rates at United Rentals were trending down 2.4% year over year, improving from trends in October (-2.7% year over year) and representing a modest change in trend, following degradation in Y/Y data since April.
The improvement is primarily driven by a less notable seasonal pullback in rental rates.
M Science expects that trends in December could improve further.
Read more here.
